By AZRE
Transwestern Real Estate Services (TRS) announced that it brokered the $16.5 million sale of 24 acres of prime infill land in Phoenix. The Transwestern team of Senior Vice President Paul Borgesen, Vice President Dylan Sproul and Senior Associate Royden Hudnall represented both the seller, Hensley Beverage Group, and the buyer, Pritzker Realty Group (PRG), in the sale of 4507 N. 45th Ave.
The acquisition marks a significant milestone in PRG’s expansion into Phoenix’s thriving industrial market. The vacant site, which had no future operational use for Hensley Beverage, will serve as the foundation for PRG’s first speculative industrial development in the Phoenix metropolitan area. PRG’s plans include the development of two Class A, speculative warehouses totaling 418,000 square feet.
“Pritzker Realty Group is very excited about the acquisition of this land and the opportunity it provides for our development plans in the area,” said Katie Michel, Senior Vice President, Pritzker Realty Group. “The land fits squarely in PRG’s acquisition strategy, as an urban infill location with excellent access to the region’s transportation infrastructure.”
